PUMA’s STRATEGIC MOVES TO BE ‘FOREVER FASTER’ IN THE MARKET

INTRODUCTION

A brand named PUMA is associated with designing, manufacturing, marketing and selling footwear, apparel and accessories. Puma is among the leading sports Brand in the world. Puma is Offering  high-class lifestyle products (Sports inspired) in various sports. Puma has collaboration with famous design brand names such as Alexander Mcqueen and also with other designers BWGH as well as Vashtie to attain its dream of being the fastest in sporty World. Cobra Golf , Puma and Dobotex  are the Categories under Brand Puma. Products of Puma are distributed among more than 120 countries also it provides Employment to more than 11,000 People. The mission of being the fastest sports brand in the world was introduced by Bjorn Gulden in 2013 clearly reflecting the new brand positioning to be “FOREVER FASTER”

The dream “TO BE THE FASTEST SPORTS BRAND IN THE WORLD” can be attained by proper marketing strategy and planning .

SWOT analysis is the first stage of planning and help marketters to focus on key issues in order to attain its goal.SWOT analysis for PUMA is as under

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MARKETING MIX:4 P’s
1. PRODUCT:-  free of Plagiarism, Time Punctuality, Standardized product, Black label includes collaboration with designers.

2. PRICE:- competitive prices compared to other shoe retailers.

3. PLACE:-  placed in Puma Brand Outlets + Multi-branded Outlets across the world

4. PROMOTION:- The athletes,international stars and other famous sports personalities are always taken as brand ambassadors. Newspapers, Strategic alliances forms the great part of the promotion.

MARKETING STRATEGY AND PLANNING
PUMAs Key Strategic Priorities

The RE-POSITIONING OF BRAND, started  with the largest brand campaign(2014), demonstrated the presence of puma in sports. Other forever faster campaign showed the brand ambassadors getting trained with puma products for the competitions in 2016.
IGNITE launches the IGNITE POWER COOL and the IGNITE XT . Rihanna teamed Usain Bolt, Arsenal London and other Sports personalities for the first TV spot for IGNITE XT  gaining lot of attention in social media. In 2015,PUMA improved product engine that resulted in Increased sales.In Football,puma strengthened its position by producing evoSPEED {evoSPEED SL(103g -the lightest one in the football shoe market} and evoPOWER . Rihanna’s first shoe style under FENTY in lifestyle got famous on social media resulting the selling of products within hours. In addition, boxing-inspired Eskiva shoe from Puma is also introduced. Producing new range always with new surprises in sporty trends is a part of their marketing strategy.ALSO,big names have always been the part of their planning in the race of being fastest.

 

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Retail concept of “PUMA Lab”(2014) continued in 2015 also marked its presence  in Finish Line and Champs(big sports retailers globally featuring

1 New shop-in-shop systems

2 Special shelving units and permanent in-store communication.

The concept of forever faster was introduced at headquarters in Germany, was followed to 20 other locations .The optimization of presentation of products and the related technologies in this new concept got good hold for Puma as a Sports brand. The improvement in integrated web shop helped Puma to expand its online presence in 2015 which is still continuing in the current year.Also online selling with good discounts in almost every shopping site is a great part of their strategy and planning to achieve its goal.

In IT Sector Progress is made by making additional markets possible to access an individual ERP system. Again in 2016 focus is on a) optimize IT infrastructure
b) implementation of  ERP system c) improvement in designing and planning processes.

“THE FUTURE IS FEMALE”

Its Seen that the market is of female consumers and the increasing craze for sports products and fashion, made PUMA target the female group in particular. Rihanna’s second Forever Faster brand campaign in 2015 is a result of this strategy . In 2016 ,She introduced FENTY puma in FEB and got so much popularity in international magazine,websites etc.

SO, with this marketing strategy and planning,PUMA is moving right it’s not only

me saying this  ……………HAVE A LOOK

Its True that Puma is not at the same level of its competitors Such as Adidas and  Nike but still its heading in the right direction.

Puma’s 4th quarter earnings in 2015, being published by Puma showed that the projected earnings of the brand had surpassed by 34.5 million $. A hike of 7.3 percent in sales is seen according to Fashionista.(Credit to Rihanna and Kylie Jenner as per Puma CEO).

 REFERENCES

GmbH, D 2016, Strategy, viewed 23 July 2016,

<http://about.puma.com/en/this-is-puma/strategy&gt;

Low, C 2016, Puma’s sale continue to increase thanks to rihanna and kylie jenner, viewed 22 July 2016,

<http://www.hotnewhiphop.com/pumas-sales-continue-to-increase-thanks-to-rihanna-and-kylie-jenner-news.21354.html?image=2&gt;

UK Essays. November 2013. Marketing Stratergy Of Puma Corporation Marketing Essay. [online]. Available from: https://www.ukessays.com/essays/marketing/marketing-stratergy-of-puma-corporation-marketing-essay.php?cref=1 [Accessed 21 July 2016].

YOUTUBE: <https://www.youtube.com/watch?v=6rD3t1cjlNQ&gt;

Sonali Gupta – 216261692

username-guptasona

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